Global stocks gain on Big Tech lift; yen swings to fresh 34-yr low

By Chris Prentice and Naomi Rovnick NEW YORK/LONDON (Reuters) -Global stocks were higher on Friday as Big Tech gains lifted Wall Street shares, while Japan’s yen hit a fresh 34-year low after the Bank of Japan (BOJ) opted to keep monetary policy loose at its latest meeting. MSCI’s broad index of global stocks reversed earlier […]

BNP Paribas Beats Estimates As Lower Costs Offset Trading Slump

By Mathieu Rosemain PARIS (Reuters) -BNP Paribas beat first-quarter profit forecasts on Thursday as lower costs and a robust performance in global banking helped to offset a steep fall in its fixed income trading. The euro zone’s biggest bank, led by company veteran Jean-Laurent Bonnafe, has made its investment banking division a key driver of […]

Japan’s 7-Eleven convenience chain targets aggressive global growth

TOKYO (Reuters) – Japanese retail giant Seven & i Holdings said on Tuesday it wanted to see huge growth for its 7-Eleven convenience store chain globally, and would be accelerating its entry into Europe, Latin America, the Middle East and Africa. It is aiming to boost the global number of 7-Eleven stores 18% to about […]

Toymaker Hasbro’s turnaround efforts help first-quarter profit beat

By Savyata Mishra (Reuters) -Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, helped by leaner inventories and steady digital gaming revenue, sending its shares up 12% in early trading. The Play-Doh maker has taken steps to reduce expenses and more than halved its inventory over the past year […]

Black Swan Hedge Fund Says Fed Rate Cuts Will Signal Market Crash

By Davide Barbuscia and Carolina Mandl NEW YORK (Reuters) – While U.S. financial markets debate the timing of interest rate cuts, one tail-risk hedge fund is warning that investors should make the most of recent economic optimism while it lasts, as a shift to lower rates will signal a dramatic market crash. “This is a […]

Wall St sees more pain ahead for US mid-sized lenders after dull Q1

By Manya Saini and Jaiveer Shekhawat (Reuters) – U.S. mid-sized banks’ profits would remain under pressure for most of 2024, Wall Street analysts said, as higher deposit costs and muted loan growth drag their earnings. Regions Financial, Huntington Bancshares and Fifth Third Bancorp joined peers in reporting smaller first-quarter profits on Friday, due to a […]

Slow Clean Power Generation Growth Hits Texas Power Sector: Maguire

By Gavin Maguire LITTLETON, Colorado (Reuters) -Drops in power generation from wind farms, hydro dams and nuclear reactors has forced the operator of the electric grid in Texas – one of the largest power systems in the United States – to boost fossil fuel use and emissions so far this year. Rising use of air […]

Adidas Shares Surpass Two-year High As ‘Terrace’ Sneaker Trend Boosts Brand Heat

By Linda Pasquini (Reuters) -Shares in Adidas rose more than 8% on Wednesday, hitting their highest level in over two years after the German sportswear giant on Tuesday reported quarterly results above expectations and hiked its 2024 guidance on strong demand for its sneakers. Growth is being driven by strong demand momentum in “terrace” retro […]

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Global stocks gain on Big Tech lift; yen swings to fresh 34-yr low

April 26, 2024

By Chris Prentice and Naomi Rovnick NEW YORK/LONDON (Reuters) -Global stocks were higher on Friday as Big Tech gains lifted Wall Street shares, while Japan’s yen hit a fresh 34-year low after the Bank of Japan (BOJ) opted to keep monetary policy loose at its latest meeting. MSCI’s broad index of global stocks reversed earlier […]
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